What does an accountant do?

I'm thinking about studying accounting in college. Could someone break down what an accountant's daily tasks are? Is it mainly about handling taxes and financial reports, or is there more to the job?

Sure, I'd be happy to shed some light on what an accountant does!

At a high level, an accountant is responsible for inspecting, organizing, and maintaining the financial records of an individual or a business. They ensure that the financial records are accurate and that taxes are paid properly and on time. The duties can vary depending on the type of accounting. There are four main types of accountants: public, management, government, and auditor.

1. Public Accountant: They might perform a variety of accounting, auditing, tax, and consulting tasks for corporations, governments, nonprofits, and individuals. They could provide advice on tax strategy or assist with the auditing process.

2. Management Accountant: Management or cost accountants are typically more focused on the strategic side of a business. They record and analyze information to help managers within an organization make decisions. They might prepare financial reports for taxes, regulatory agencies, and stockholders.

3. Government Accountant: They work in the public sector, maintaining and examining the records of government agencies and auditing private businesses and individuals whose activities are subject to government regulation or taxation.

4. Auditor: Internal auditors check for risk management of an organization or business. They find areas where might be potential fraud or waste and work to improve the processes for finding and eliminating it.

Remember that the role of an accountant also varies significantly based on the size and type of organization they work for. In a smaller office, an accountant might handle a broad spectrum of accounting activities, whereas in a larger company, they might specialize more deeply in a specific area. The daily tasks could cover everything from data entry and report generation, to financial analysis, cost projections, and tax preparation.

Working with numbers is a big part of the job, but so is understanding and applying regulations, using accounting software, and having strong problem-solving skills to help resolve financial discrepancies. It's a profession that mixes technical skills with a fair amount of strategic thinking.